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Bank of Hawaii Re-Opens Accounts for Iranians in U.S. (NIAC Press Release)

Balatarin

Washington, DC - The National Iranian American Council (NIAC) welcomes the decision by Bank of Hawaii to re-open bank accounts for Iranian customers. After receiving reports that the bank had terminated the accounts of Iranian customers in the U.S. in an effort to comply with U.S. financial sanctions against Iran, NIAC called on the bank to reverse the decision and worked to help facilitate a solution with the bank and the Department of Treasury that meets sanctions compliance requirements while not punishing Iranians in the United States. NIAC applauds Bank of Hawaii for acting promptly and for satisfactorily addressing all concerns.

 

Bank of Hawaii issued the following statement:

      

"Bank of Hawaii, in consultation with its technology providers, regulators and advocacy groups such as the National Iranian American Council ("NIAC"), has developed a solution to allow it to once again make accounts available to Iranian residents.        
  
"In recent months, we have had to take steps to ensure compliance with U.S. sanctions regarding Iran, in particular those prohibiting access to U.S. bank accounts by persons in Iran.  Unfortunately, this placed burdens on customers whose primary residence was indicated as Iran but who reside in the United States. (Iranian customers whose primary residence is in the U.S. are not subject to the same restrictions). Bank of Hawaii strongly values its relationship with our Iranian customers and with the Iranian-American community, and we regret any inconvenience this has caused.      
  
"We plan to contact the seventeen customers whose accounts were closed, and to provide them with information about restarting their banking relationships with Bank of Hawaii in the next week or so. As part of the solution, areas where access will need to be restricted are banking-by-mail and transactions over the telephone. Access through debit cards, checks, ATMs and over the internet will be available while the customers are in the U.S.     
  
"Bank of Hawaii thanks NIAC for its outreach and efforts to help us craft a solution that meets the banking needs of Iranian residents while adhering to its obligations under the U.S. Government's economic sanctions program."     

  

NIAC is pleased that this issue has been resolved. While broad sanctions have created significant compliance issues for banks and private companies, it is critical that these policies do not negate the basic rights and protections afforded to Iranian citizens in the United States.

  

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The National Iranian American Council (NIAC) is a nonpartisan, nonprofit organization dedicated to advancing the interests of the Iranian-American community. We accomplish our mission by supplying the resources, knowledge and tools to enable greater civic participation by Iranian Americans and informed decision-making by policymakers.

Balatarin

Ryan Costello @RyanCostello

Ryan Costello joined NIAC in April 2013 as a Policy Fellow. In this role, Ryan monitors legislation, conducts research and writing, and coordinates advocacy efforts.

Washington, D.C.

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irajkhan

iraj khan Peace Is The Way

Good job NIAC, way to go!

Bavafa

Bavafa   'Hambastegi' is the main key to victory  Mehrdad

That is a great step forward to restore the rights of Iranians outside of Iran.

Congrats

Mehrdad

MRX2412

MRX2412

Thank you NIAC what do we do without you?
This is indeed an excellent news for aghazadeh, bach haji, mullah's and others who loot Iran on a daily basis. Now they can open an account with approval of uncle sam! They may even invest in Hawaiian real estate at a large scale.Oh What a joyous day to be Iranian (sorry my mistake, what the day to be part of 'omat' islam).

choghok

choghok Your enemie's enemy is necessarily not a friend.

unbelievable, there is no limit to how people can play ignorant. Come on, if you do not want to give credit to NIAC then say nothing.

The poor girl that was killed some weeks ago by her new husband was she also "aghazadeh", or all the guys winning different kind of international championships in science and are given sholarships in US are they bache haji?

Why do you even bother to visit Iranian since you seem to dislike Iranians in general then?

MRX2412

MRX2412

How interesting, what makes you think I dislike Iranians?

As for NIAC, hey it's a free country and if they want to use money from a sahdy character like George Soros or if they want to hang around IRI amabassdors and play backgammon with him who am I to judge them! (Harkasi yek jori bayad roozish begzareh digeh)

You may be right, I had no idea that there are millions of Iranians in Hawaii and they all are studying in finer institutions of learning over there and they all need checking account.
you know I am just saying!

choghok

choghok Your enemie's enemy is necessarily not a friend.

But somehow you know those "millions" as you put it are all aghazadeh and bache Haji.

MRX2412

MRX2412

To be fare I had no idea that there are millions of Iranians in Hawaii with a need for checking accounts. so yes NIAC is just an amazing organization. I can't wait for their next act.

irajkhan

iraj khan Peace Is The Way

This is important for those Iranian students whose parents sell what they have and borrow as much as they can in order to send their children to U.S. to study for the betterment of their lives.
I know quite a few female students who came from Iran recently to study here. I respect them and their families for their dedication and hard work.
They are not 'aghazadeh, bach haji, mullah's and others who loot Iran on a daily basis'.

I'm just saying,
Iraj

VisforVoy

Visfor Voy Voy! Is an Iranian expression of great frustration. A play on the film and comic book adaptation "V is for Vendetta". Get it? Object to Iran, and put energy into Pragmatic (not reckless, dangerous or foolhardy) Opposition to it.

Thank God!

Now the 8 Iranians who live in Hawaii can resume their shopping at Costco.

Because Costco ahs some really great deals. But the trick is to go on Wednesday nights when the crowds are less and they are putting out all the hot deals and restocking for the weekend. ;)

Bavafa

Bavafa   'Hambastegi' is the main key to victory  Mehrdad

It shows you are an avid Costco shopper.

Thanks for sharing the tip

Mehrdad

G.Rahmanian

G. Rahmanian


I know of students whose parents sold their homes and are living in parks just to send them to universities in the US. I'm sure they tried, but they could not find anything better in between Iran and the US. Something more reasonable than the universities in the US which are infamous for their high costs. Poor folks!

Iranian-Americans must give those parents credit for such sacrifices. Let's face it, would you send your children to one of the 8,000 universities in India? Of course not! Would you send your children to an AMERICAN UNIVERSITY in Malaysia or Singapore? No way! Should you even consider universities in the Eastern European countries? Why should you? I know many Iranian parents who would rather be homeless than even consider universities in the Eastern European countries.

Hey, I almost forgot. Isn't there a way for the Iranian government to give scholarships to the students studying abroad? Like the good old times?

Oh, it's the banks. American banks don't really like Iranians.

"Death to American Banks!"